Carney to quit as Bank chief in 2019

Mark Carney leaving No 10 yesterday after talks with Theresa May. The Bank of England governor cited Brexit and family considerations for his decision to quitLeon Neal/Getty

Mark Carney surprised the government last night by turning down the chance to stay in his post until 2021 after receiving lukewarm backing from Downing Street. The governor of the Bank of England said that he would leave in June 2019 — the earliest opportunity to depart after Brexit.

Mr Carney, 51, was originally due to stand down in 2018 with the option of a three-year extension, which had been backed publicly by Philip Hammond, the chancellor.

Last month, however, Theresa May used her speech to the Conservative Party conference to warn of the “bad side-effects” from the Bank’s loose monetary policy and vowed to change it. She criticised a rootless “international elite”, which some Tory MPs saw as a swipe at the Canadian governor.…